Listing your property as a holiday rental can be a great way to increase your rental yield, as it may be possible, to charge the regular monthly rent for a one week holiday stay, depending on your location.
Leasing your property for say 12 weeks a year as a holiday rental, would generate the same return on investment, as a permanent tenant and additional weeks, will simply increase your return.
Here are some tips from RealRenta if you decide to rent your property as a holiday rental:
yourself with privacy guidelines with regards to screening prospective guests,
asking questions and collecting personal information.
the rental agreement in writing to your guests and include emergency and repair
instructions and information on departure
· You can request a refundable damage deposit to
protect you from damage and premature departure
· Do an inspection of the property before guests
arrive and provide them with a copy of the report and advise them that they are
responsible for negligent damage
· Check to see if your local council requires you
to seek approval for short term leasing
If you don’t have an ABN you will need to set
Consider installing s keyless lock for easy
access to your property
Ensure you have enough furniture, beds, cutlery,
crockery, a kettle and toaster.
Provide linen and towels and pillows (you may
want to charge for linen as an optional extra)
Providing entertainment like Cable TV will help
Take any of your personal valuables out of the
Take high quality photos of the exterior,
kitchen, living room, main bedroom, additional bedrooms and the outlook
Look at similar holiday rentals in your area to
determine the right price
Consider having a "peak” and "off peak rate” and
whether or not you want a minimum night stay
Determine what your deposit amount will be
· Ensure that your guests are aware of your
cancellation policy, general terms & conditions, check in and check- out
times, total amount due, policies on pets and smoking.
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Tuesday, 27 August 2019